Medicare Hurts Horizon’s Fourth Quarter Income
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst Industry News On November 2, 1998, Horizon Health Corporation announced that its fiscal fourth quarter operating income fell 22.7% in part because of changes in Medicare's reimbursement policy for mental health services. However, Horizon's revenues rose 29.1 % to $36.3 million in the fourth quarter ended August 31 , 1998, compared with $28.1 million in the prior fourth quarter. The company posted fourth quarter operating income of $1.9 million, or $0.25 per diluted share, below Wall Street's forecast of $0.28 per share . . .